Broker sues state Realtor association

A real estate broker in Kentucky represented by Attorney David Barry today sued the Northern Kentucky Association of Realtors and the Northern Kentucky MLS. The suit seeks an injunction to bar the Realtor association from forcing real estate agents to buy memberships in the association as a condition of belonging to the MLS.  more...

Cendant sells Homestore stock

Real estate franchisor Cendant Corp. sold 6.7 million shares of its total investment in Homestore for proceeds of nearly $26 million in the last two months, according to insider transaction forms filed with the Securities and Exchange Commission.

On Dec. 17, Cendant conducted two private sales of 1 million and 3.4 million shares at stock prices of $3.70 and $3.33, respectively. On Jan. 20, Cendant sold another 2.3 million shares at $4.75 a share. Cendant still owned more than 11.4 million shares, or 9.5 percent of the shares outstanding, of Homestore after those sales of stock.  more...

Schwarzenegger eyes Reagan mansion

Arnold Schwarzenegger is looking for a new place to park the Hum-Vee. The California Governator has made some serious inquiries into buying Ronald Reagan's old mansion, listed for sale at $5.9 million.

The 11-acre property in Carmichael, Calif., is about 10 miles east of Sacramento. The 9,900-square-foot, one-story home has eight bedrooms, seven full baths, two half-baths, a pool, grand ballroom and three-car garage.

The Reagan family never occupied the mansion, which is for sale by a private owner through Dunnigan Sierra Oaks realty.  more...

LandAmerica financial results sink

LandAmerica Financial Group today reported its operating results for the fourth quarter and year ended Dec. 31, 2003. The company's 2003 full-year results were stronger than 2002's full-year results, but the fourth quarter comparison showed significant year-over-year weakness.  more...

Entries sought for Good Neighbor awards

Realtor Magazine, a publication of the National Association of Realtors, is seeking nominations for its fifth annual Good Neighbor Awards. The program recognizes Realtors whose commitment to community service has helped make their community a better place to live.

Five winners will be announced in November and recognized at the 2004 Realtors Conference & Expo in Orlando, Fla., in that month. The winners will receive travel expenses to the convention, media exposure and a $7,500 grant. Five honorable mentions will each receive a $1,500 grant.  more...

Realty Executives directory now online

Realty Executives International has placed its referral directory online.

The service is available free to all Realty Executives agents. Participation in the directory is automatic for all agents, who can highlight their designations, interests and areas of expertise. Enhanced directory listings are available on an annual subscription basis for agents who want more prominent visibility.

Rich Rector, CEO of Realty Executives International, said the online referral directory would provide agents and referral coordinators "the most up-to-date information in real-time."  more...

Economic growth should persist

The Conference Board announced today that the U.S. leading index increased 0.5 percent, the coincident index increased 0.3 percent and the lagging index was unchanged in January. The continued growth in the leading index of about a 5.5 percent annual rate, excluding the recent weakness in the money supply, is signaling that strong economic growth should persist in the near term, the business organization said.  more...

Mortgage interest rates increase

Long-term mortgage interest rates were higher Thursday, and the benchmark 10-year Treasury bond yield slid to 4.03 percent.

The 30-year fixed-rate average increased to 5.26 percent, and the 15-year fixed-rate was up at 4.55 percent. The 1-year adjustable remained at 3.22 percent.

The 30-year Treasury bond yield dipped to 4.89 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.  more...